Zevia PBC (NYSE:ZVIA) Receives $4.68 Average PT from Brokerages

Shares of Zevia PBC (NYSE:ZVIA) have received an average rating of “Hold” from the six brokerages that are currently covering the company, MarketBeat.com reports. One analyst has rated the stock with a sell recommendation, two have given a hold recommendation and three have assigned a buy recommendation to the company. The average 12 month price target among analysts that have issued ratings on the stock in the last year is $4.6750.

Several analysts recently commented on ZVIA shares. Telsey Advisory Group reiterated an “outperform” rating and set a $6.00 price target on shares of Zevia PBC in a research report on Wednesday, January 14th. Craig Hallum began coverage on shares of Zevia PBC in a report on Thursday, January 15th. They set a “buy” rating and a $4.00 target price for the company. Weiss Ratings reiterated a “sell (d-)” rating on shares of Zevia PBC in a research report on Wednesday, January 21st. Finally, Zacks Research lowered shares of Zevia PBC from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, November 5th.

Insider Buying and Selling at Zevia PBC

In related news, major shareholder De Depot Et Placement D. Caisse sold 3,500,000 shares of the stock in a transaction that occurred on Tuesday, January 27th. The stock was sold at an average price of $2.00, for a total value of $7,000,000.00. Following the completion of the sale, the insider owned 13,550,428 shares of the company’s stock, valued at approximately $27,100,856. This trade represents a 20.53% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 11.11% of the stock is currently owned by corporate insiders.

Institutional Trading of Zevia PBC

A number of hedge funds and other institutional investors have recently modified their holdings of ZVIA. The Manufacturers Life Insurance Company acquired a new position in shares of Zevia PBC during the 4th quarter valued at about $38,000. Jacobs Levy Equity Management Inc. boosted its holdings in Zevia PBC by 382.1% in the 4th quarter. Jacobs Levy Equity Management Inc. now owns 527,498 shares of the company’s stock valued at $1,224,000 after purchasing an additional 418,077 shares during the last quarter. Charles Schwab Investment Management Inc. grew its stake in shares of Zevia PBC by 58.6% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 157,587 shares of the company’s stock valued at $366,000 after buying an additional 58,207 shares during the period. Wells Fargo & Company MN grew its stake in shares of Zevia PBC by 178.0% in the 4th quarter. Wells Fargo & Company MN now owns 60,750 shares of the company’s stock valued at $141,000 after buying an additional 38,894 shares during the period. Finally, Jane Street Group LLC acquired a new stake in shares of Zevia PBC during the 4th quarter worth approximately $802,000. 53.21% of the stock is owned by institutional investors and hedge funds.

Zevia PBC Trading Up 3.5%

ZVIA stock opened at $1.63 on Wednesday. Zevia PBC has a 12-month low of $1.55 and a 12-month high of $3.70. The business’s 50-day moving average is $2.07 and its 200 day moving average is $2.43. The stock has a market cap of $121.88 million, a price-to-earnings ratio of -7.39 and a beta of 0.86.

Zevia PBC Company Profile

Zevia PBC, headquartered in Los Angeles, is a Public Benefit Corporation that produces zero-calorie, naturally sweetened beverages. Founded in 2007, the company went public through a merger with a special purpose acquisition company in March 2021. Zevia’s mission centers on offering healthier drink alternatives by using stevia leaf extract and other plant-based ingredients rather than sugar or artificial sweeteners.

The company’s product portfolio spans multiple categories, including carbonated sodas, sparkling water, energy drinks, mixers and flavored teas.